With the rising awareness of environmental issues and economic efficiency, the number of eco-friendly, low-emission vehicles, such as hybrid cars, registered with the Seoul Metropolitan City Government increased 20 percent in 2013 from the previous year.
<Hybrid vehicles save KRW 1.2 million in fuel cost every 20,000 kilometers>
On average, hybrid vehicles have 55 percent higher fuel efficiency than conventional gasoline vehicles of the same class. This allows drivers of hybrid cars to save KRW 1.2 million in fuel cost (assuming a gasoline price of KRW 1,800 per liter) every 20,000 kilometers.
<The purchase of a hybrid car can bring savings of up to KRW 4.7 million on taxes, including special excise tax and acquisition tax>
Drivers can save up to KRW 4.7 million on taxes, including individual consumption tax and acquisition tax, with the purchase of a hybrid car.
|Category||Tax||Financial Assistance||Effective Term|
|Hybrid car||Purchase||Individual consumption tax||Maximum KRW 1 million exempted||Until Dec 31, 2015|
|Education tax||Maximum KRW 300,000 exempted|
|Register||Acquisition and registration taxes||Maximum KRW 1.4 million exempted||Until Dec 31, 2014**|
|Purchase Cost of City Railway Bonds||Maximum KRW 2 million exempted *|
<Exemption from paying tolls at Namsan Tunnels 1 and 3, and 50% discount on parking fees at city-operated public parking lots >
Classes 1 and 2 low-emission vehicles that are registered with the Seoul Metropolitan Government and display the electronic sticker below are exempt from paying congestion tolls (KRW 2,000) at Namsan Tunnels 1 and 3.
In addition, vehicles displaying low-emission vehicle stickers will get a 50 percent discount on parking fees at city-operated public parking lots, and up to an 80 percent discount on subway station parking spaces.
▶ Vehicle Registration
By Vehicle Type (As of the end of 2012)
|Special purpose vehicle|
Two-wheeled motor vehicles
※ 15.7% of all registered vehicles (18.871 million) in Korea
By Fuel Type (As of the end of 2012)